OrganiGram Gains Share Of Cannabis Market, While Major Players Await Washington
Investing.com | Jan 18, 2022 14:49
With little fanfare and few headlines, a small Canadian-based cannabis company has found itself slowly—and quietly—inching its way closer to becoming the third-largest marijuana company in the country, right behind one of the sector’s most recognizable names—Canopy Growth (NASDAQ:CGC) (TSX:WEED).
That's the situation with OrganiGram Holdings (NASDAQ:OGI) (TSX:OGI), which unveiled its latest quarterly earnings last week, surprising market observers.
The New Brunswick-based company reported better than expected Q1 report for the three-month period that ended in September 2021, it posted revenues of US$317 million, a 74% increase over the US$182 million recorded in the same quarter in the previous year.
Both stocks are down around 45% in the last 12 months, putting them in an interesting place for those looking for an inviting entry.
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